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The Families First Coronavirus Response Act (FFCRA): What you need to know

Insperity

The Families First Coronavirus Response Act (FFCRA or Act) is part of the federal government’s effort to minimize the economic impact felt by American families dealing with the COVID-19 global pandemic. Together with the Coronavirus Aid, Relief and Economic Security (CARES) Act, also enacted by the U.S.

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New COVID relief package extends payroll provisions

Business Management Daily

The new COVID relief package included in the Consolidated Appropriations Act, 2021 (H.R. It includes extensions and expansions of payroll relief and another set of $600 checks payable to most taxpayers. The key payroll provisions include: An extension of the paid sick/ family leave provisions and your tax credit for providing leave.

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Natural disasters and payroll: What you need to know

Business Management Daily

And since hurricane season is still at its peak, now it a good time to remind everyone about natural disasters and payroll. 15, 2020, to file individual and business tax returns and make tax payments, including third-quarter estimated tax payments. 31, 2020, is also extended to Dec. Victims of the Aug.

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Trends to watch for in 2020 at the IRS

Business Management Daily

Payroll has moved to center stage at the IRS. Most deal with implementing the Tax Cuts and Jobs Act: Guidance on the definition of “qualifying relative” for individual income tax purposes. Employees may account for tax dependents in Step 3 of the 2020 W-4. New Form 1099-NEC. A BIT MORE THAN IT CAN CHEW?

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10 steps to maintain end-of-year payroll compliance

Business Management Daily

The end of the year is a hectic time for payroll staff and business owners. While the year is winding down, the payroll department is ramping up to prepare for the end of the year and ensure that all reporting deadlines are met. Some payroll tax compliance items are completed quarterly, or more frequently throughout the year.

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A closer look at the Families First Cornoavirus Response Act

Business Management Daily

6201, Families First Coronavirus Response Act very soon. Here are the provisions of interest to Payroll and HR. Emergency paid leave benefits. Employees who worked 30 days before being affected by COVID-19, who don’t have access to any paid leave (i.e., Benefits are tax-free.

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The future of FMLA points to paid leave

Business Management Daily

The future of the Family and Medical Leave Act ( FMLA ) is taking shape before our eyes. In passing the Families First Coronavirus Response Act (FFCRA), Congress authorized limited paid leave for the rest of 2020. In all likelihood, some form of paid FMLA leave will survive the pandemic.